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WALBRO CORPORATION REPORTS THIRD-QUARTER RESULTS

 CASS CITY, Mich., Oct. 14 /PRNewswire/ -- L.E. Althaver, chairman, president and chief executive officer, Walbro Corporation (NASDAQ-NMS: WALB), reported sales of $64,374,000 for the quarter ended Sept. 30, 1993, compared with $60,360,000 for the third quarter of 1992. Third-quarter income was $3,112,000 compared with $3,308,000 for the same period in 1992.
 Income per share was $.36 for the third quarter of 1993, fully diluted, compared with $.40 fully diluted for the same period in 1992. Average shares outstanding were 8,586,326 in 1993 and 8,558,165 in 1992.
 Althaver noted that sales were up from 1992, but that income was down for several reasons, including start-up expenses related to Walbro plants in the U.S. and a new joint venture in South America.
 "Profits from Marwal Systems, Walbro's automotive joint venture in France, continue to be lower than anticipated due to the severity of the recession in Europe," Althaver added. "However, we remain positive regarding the potential for this venture. We are ahead of plan in market share, suggesting excellent growth when conditions improve."
 "Demand for Walbro's automotive fuel system products in the U.S. during the third quarter was quite strong, with shipments of fuel modules particularly high," Althaver reported.
 "Demand for small engine products was light in the first half of the third quarter. However, orders strengthened in the second half of the quarter and the outlook for the fourth quarter and beyond is good, with production schedules already filled well into 1994," according to the Walbro chief executive.
 Althaver also reported positive customer reaction to new Walbro products. These include plastic fuel tanks that offer significant safety and emissions advantages in automotive applications, and fuel delivery and engine management systems designed to satisfy upcoming small engine emissions standards.
 Walbro Corporation is a designer and manufacturer of automotive and small engine fuel system components. Walbro Corporation is headquartered in Cass City, and has subsidiaries and joint ventures throughout the world, including the United States, Mexico, Brazil, Japan, Singapore, Korea and France. Walbro Corporation common stock is traded on the NASDAQ National Market System under the symbol WALB.
 WALBRO CORPORATION
 (In thousands, except share data)
 Three Months Ended Nine Months Ended
 Sept. 30 Sept. 30
 1993 1992 1993 1992
 Net sales $64,374 $60,360 $202,748 $183,860
 Net income 3,112 3,308 7,847 10,384
 Net income per share
 Primary .36 .41 1.26 1.38
 Fully diluted .36 .40 1.26 1.33
 Primary average
 shares
 outstanding 8,586,326 8,066,114 8,520,125 7,535,841
 Fully diluted
 shares 8,586,326 8,558,165 8,520,125 7,997,792
 -0- 10/14/93
 /CONTACT: L.E. Althaver, Gary Vollmar or Dan Hittler of Walbro Corporation, 517-872-2131/
 (WALB)


CO: Walbro Corporation ST: Michigan IN: AUT SU: ERN

JG-DC -- DE010 -- 2091 10/14/93 09:59 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
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